With new reporting, disclosure and voting requirements for U.K. public companies scheduled to take effect for fiscal years beginning on or after October 1, the final version of the regulations has now been adopted and published. The new final regulations make no substantive changes in the draft circulated back in June (see “U.K. Releases Final Disclosure Regulations," Executive Pay Matters, June 25, 2013, for details).
Now that final rules have been issued, U.K. companies are focused on preparing for the new regime. External guidance on complying with the new rules is expected in early to mid-September from the GC 100 (an association of general counsels and company secretaries working in FTSE 1000 companies) in collaboration with representatives of leading investment firms and bodies.
To help U.K. companies prepare for the new requirements, we’re hosting a webcast September 25 with our colleague Heather Marshall to review the practical implications of the new regulatory regime, including drafting aspects, stakeholder engagement and voting as well as the expected guidance from the GC 100. For more information about the webcast, including how to register, click here.
Katharine Turner leads Towers Watson’s executive compensation practice in the U.K. and Richard Latham is a senior consultant in the executive compensation practice in our London office. Email firstname.lastname@example.org, email@example.com or firstname.lastname@example.org.